Aug 11, 2022 - Politics & Policy

Enactment timeline for Dems health, climate and tax package

Timeline of IRA provisions
Data: White House; Chart: Axios Visuals

Here is the timeline for when each of the major provisions of the Inflation Reduction Act is slated to take effect.

The big picture: A majority of the provisions start to take effect after this year's November midterms but before the 2024 presidential election.

Most of the health provisions — which lower drug prices and out-of-pocket costs for some of Medicare's 64 million enrollees — would take effect in 2023 or later.

  • The three-year extension of ACA subsidies would take effect when enrollment begins this November.

The climate provisions provide tax credits and rebates for a wide range of items, including solar panels and high-efficiency heating and cooling appliances, that consumers and companies can immediately use.

As for the tax provisions, funding for the Internal Revenue Service to improve services will take a while to implement and enforce, and the corporate minimum tax will affect companies' 2023 taxes but not current year taxes.

Editor's note: This article has been updated with more details about the timeline for ACA subsidies.

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